-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, UxI/QCt0tSU5buxB7wqcPju9dLmpe52+3rueuFCSnS1raJu22Y146FotDC1vfS6L G9te95BRskPGBS4Sn2NuNw== 0000830736-07-000017.txt : 20071114 0000830736-07-000017.hdr.sgml : 20071114 20071114162754 ACCESSION NUMBER: 0000830736-07-000017 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20071114 ITEM INFORMATION: Results of Operations and Financial Condition FILED AS OF DATE: 20071114 DATE AS OF CHANGE: 20071114 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ALPHA INNOTECH CORP CENTRAL INDEX KEY: 0000830736 STANDARD INDUSTRIAL CLASSIFICATION: LABORATORY ANALYTICAL INSTRUMENTS [3826] IRS NUMBER: 581729436 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-14257 FILM NUMBER: 071245271 BUSINESS ADDRESS: STREET 1: 2401 MERCED ST. CITY: SAN LEANDRO STATE: CA ZIP: 94577 BUSINESS PHONE: 5104839620 MAIL ADDRESS: STREET 1: 2401 MERCED ST. CITY: SAN LEANDRO STATE: CA ZIP: 94577 FORMER COMPANY: FORMER CONFORMED NAME: XTRANA INC DATE OF NAME CHANGE: 20010702 FORMER COMPANY: FORMER CONFORMED NAME: BIOPOOL INTERNATIONAL INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: CYTRX BIOPOOL LTD DATE OF NAME CHANGE: 19890716 8-K 1 body_8k.htm PRESS RELEASE REPORTING RESULTS FOR QUARTER AND NINE MONTHS ENDED SEPTEMBER 30, 2007 body_8k.htm
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):  November 14, 2007

ALPHA INNOTECH CORP.
(Exact name of registrant as specified in its charter)

Delaware
 
1-14257
 
58-1729436
(State or other jurisdiction of incorporation)
 
(Commission File Number)
 
(IRS Employer Identification No.)

 



 
2401 Merced Street, San Leandro, California
 
94577
(Address of principal executive offices)
 
(Zip Code)


Registrant’s telephone number, including area code: (510) 483-9620

N/A
 (Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
 
 
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
 
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
 
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(B))
 
 
¨
Pre-commencement communications pursuant to Rule 13e-4(c)) under the Exchange Act (17 CFR 240.13e-4c))
 



ITEM 2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION

On November 14, 2007, Alpha Innotech Corp. (the "Company") issued a press release announcing its earnings for the fiscal quarter and the nine months ended September 30, 2007, the text of which is attached hereto as Exhibit 99.1.

The information in this Item 2.02 of the Current Report on Form 8-K, including the exhibit, is furnished pursuant to Item 2.02 and shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities under that Section. Furthermore, the information in the Item 2.02 of the Current Report on Form 8-K, including the exhibit, shall not be deemed to be incorporated by reference into the filings of the Company under the Securities Act of 1933, as amended.

ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS

(d) EXHIBITS

 
99.1
Press Release dated November 14, 2007 announcing earnings for the fiscal quarter and the nine months ended September 30, 2007



SIGNATURE
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
ALPHA INNOTECH CORP.
 

 
Date:                      November 14, 2007                                                                By:           /s/ Ron Bissinger
Ron Bissinger
Chief Executive Officer and Chief Financial Officer



EX-99.1 2 exhibit_99.htm TEXT OF PRESS RELEASE exhibit_99.htm
Exhibit 99.1

ALPHA INNOTECH REPORTS RECORD THIRD QUARTER REVENUES

November 14, 2007 – Alpha Innotech Corp., San Leandro, California

Alpha Innotech Corp. (OTCBB:APNO), a leading provider of bioanalytical systems for drug discovery and life science research, today reported financial results for the third quarter ending September 30, 2007.

Third quarter revenues of $3.680 million increased nearly 10% from the $3.355 million reported in the same period in 2006, and were the highest third quarter revenues in the Company’s history.  For the nine month period ending on September 30, 2007, revenues increased 14% to $10.839 million from the $9.506 million reported for the same period in 2006.

The net loss for the third quarter ending September 30, 2007 was $290,000 compared to the $48,000 net loss reported for the comparable period in 2006.  The net loss was reduced by 40% to $628,000 in the nine month period ending on September 30, 2007 compared to a net loss of $1,039,000 in the same period in 2006.

“We continue to post solid year over year revenue gains, growing faster than our industry average and doing so while maintaining positive EBITDA.” said Ron Bissinger, Chief Executive Officer of Alpha Innotech.  “Our revenue growth is validating our decision to invest in our sales infrastructure in 2007.  We also have implemented our leveraged R&D model for rapid product development, and we expect to introduce some new products in the coming months as a result of that initiative.”

Other accomplishments from the third quarter include:

·  
Launched the new AlphaImager® EP, a flexible, easy to use gel documentation system.

·  
Released the innovative AlphaView™, a new software package for quantitative analysis of images from a wide range of biological samples.

·  
Delivered another industry first with the launch of IQOQPQ Procedures comprising Installation Qualification (IQ), Operational Qualification (OQ) and Performance Qualification (PQ). IQOQPQ Procedures were developed to address the increasing demand from researchers in the Pharmaceutical and Biotechnology industries to meet regulatory compliance requirements.


More information on Alpha Innotech can be found at the Company’s website www.alphainnotech.com.




About Alpha Innotech Corp.

Founded in 1992 and with over 8,000 systems sold worldwide, Alpha Innotech is a leading developer, manufacturer and marketer of digital imaging and analysis systems for the life science research and drug discovery markets. Our goal is to combine instruments, reagents and bioinformatics software to offer integrated modular technology platforms for functional genomics, proteomics and cell analysis markets. Our customers include pharmaceutical and biotechnology companies as well as universities, medical centers, government research institutes and agencies worldwide.

Use of Non-GAAP Financial Measures

To supplement the Company’s financial statements presented in accordance with GAAP, the Company is also providing non-GAAP financial information.  The presentation of non-GAAP financial information should be considered in addition to the Company’s GAAP results and is not intended to be considered in isolation or as a substitute for financial information prepared and presented in accordance with GAAP.  The Company believes that both management and investors benefit from referring to non-GAAP financial information that excludes certain expenses in their assessment of the Company’s performance.  The Company also believes that investors benefit from increased transparency into supplemental information used by management in its financial and operational decision making.

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and is subject to the safe harbor created by those sections. These forward-looking statements involve a number of risks and uncertainties that include, but are not limited to, the Company’s ability to obtain additional financing if needed, the timing of the introduction and success of new products, and the Company's growth prospects, that could cause actual results to differ materially from those anticipated or planned by these forward-looking statements. Please also refer to the risk factors described in our filings with the Securities and Exchange Commission, including our recent Form 10-KSB and Forms 10-QSB filed with the Securities and Exchange Commission. We do not intend to update the forward-looking information contained in this news release except as required by law.

Contact:

Alpha Innotech Corp.
Ron Bissinger, CEO
Tel: 510-483-9620











Alpha Innotech Corp.
Condensed Consolidated Statements of Operations
(Unaudited)
(in thousands, except per share amounts)

   
Three Months Ended
September 30,
   
Nine Months Ended
September 30, 
 
   
2007
   
2006
   
2007
   
2006
 
Revenue
  $
3,680
    $
3,355
    $
10,839
    $
9,506
 
Cost of goods sold
   
1,690
     
1,504
     
4,885
     
4,520
 
Gross profit
   
1,990
     
1,851
     
5,954
     
4,986
 
Operating expenses:
                               
Sales and marketing
   
1,299
     
933
     
3,517
     
3,074
 
Research and development
   
298
     
246
     
946
     
983
 
General and administrative
   
605
     
640
     
1,890
     
1,751
 
Total operating expenses
   
2,202
     
1,819
     
6,353
     
5,808
 
Profit (loss) from operations
    (212 )    
32
      (399 )     (822 )
Other income (expense)                                
Interest expense
    (72 )     (78 )     (221 )     (236 )
Other income (expense), net
    (6 )     (2 )     (8 )    
19
 
Net profit (loss)
  $ (290 )   $ (48 )   $ (628 )   $ (1,039 )
Profit (loss) per common share - basic and diluted
  $ (0.03 )   $ (0.00 )   $ (0.06 )   $ (0.11 )
Weighted average shares outstanding - basic and diluted
   
10,449,147
     
9,858,694
     
10,343,383
     
9,796,937
 




Alpha Innotech Corp.
Condensed Consolidated Balance Sheets
(in thousands)


   
September 30,
   
December 31,
 
   
2007
   
2006
 
   
(Unaudited)
       
Assets
           
Current assets:
           
Cash and cash equivalents
  $
434
    $
446
 
Accounts receivable, net
   
1,799
     
2,189
 
Inventory, net
   
1,217
     
633
 
Prepaid expenses and other current assets
    151        190   
Total current assets
   
3,601
     
3,458
 
Property and equipment, net
   
909
     
1,049
 
Other assets
   
91
     
91
 
Total assets
  $
4,601
    $
4,598
 
                 
Liabilities and Stockholders' Deficit
               
                 
Current liabilities:
               
Accounts payable
  $
2,094
    $
1,608
 
Accrued liabilities
   
1,158
     
976
 
Current portion of debt
   
1,330
     
1,594
 
Deferred revenue
   
1,072
     
896
 
Other liabilities
   
190
     
210
 
Total current liabilities
   
5,844
     
5,284
 
Debt, net of current portion
   
303
     
489
 
Total stockholders' deficit
    (1,546 )     (1,175 )
Total liabilities and stockholders' deficit
  $ 4,601      $ 4,598   








Alpha Innotech Corp.
Non-GAAP Calculation of Net Income (Loss)
(Unaudited)
(in thousands)


     
Three Months Ended
September 30,
     
2007
   
2006
Non-GAAP calculation of net income (loss):
           
      GAAP Net loss
   
 $   (290)
   
 $    (48)
      Interest
   
72
   
78
      Depreciation
   
131
   
150
      Stock-based compensation
   
103
   
144
Founders Bonus Plan Expense Accrual
   
29
   
Non-GAAP basis income (loss)
   
 $       45
   
 $     324





 
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